Uber paid hackers $100,000, concealed data stolen from 57 million accounts

By Jim Finkle and Heather Somerville

(Reuters) - Uber Technologies Inc paid hackers $100,000 to keep secret a massive breach last year that exposed the data of some 57 million accounts of the ride-service provider, the company said on Tuesday.

Discovery of the company's cover-up of the incident resulted in the firing of two employees who led Uber's response to the ha

Alibaba goes offline with $2.9 billion stake in China`s top grocer

BEIJING  - Internet giant Alibaba Group Holding Ltd said on Monday it would invest HK$22.4 billion ($2.87 billion) for a major stake in China's top hypermart operator, Sun Art Retail Group Ltd, part of a wider push into offline retail.

As part of an alliance with Auchan Retail S.A. and Ruentex Group, Alibaba would buy the stake from Ruentex while Auchan Retai

Airbus faces tricky hurdles over stalled A380 Emirates deal

By Tim Hepher and Alexander Cornwell

DUBAI  - A preliminary deal to sell 36 A380s to Emirates blew up in an Airbus hospitality chalet moments before the Gulf carrier was expected to shower $30 billion on the planemaker and its U.S. rival Boeing at the start of last week's Dubai Airshow.

Two top Emirates officials broke the news to Airbus CEO Tom End

Trump's commercial policy could undermine trade with Latin America

The US trade policy has taken such a drastic turn that it may well affect trade with Latin America, said Sebastian Herreros, the representative for economic affairs of the Economic Commission for Latin America and the Caribbean (ECLAC).

Herreros told Xinhua news agency in an interview that, according to ECLAC, around 24.9 per cent of the total US exports head to Latin America and

Apple's first VP of inclusion and diversity leaves after 6 months

Denise Young Smith, who joined Apple in May as its first Vice President of inclusion and diversity, will leave the company at the end of the year.

"We deeply believe that diversity drives innovation," an Apple spokesperson was quoted as saying by TechCrunch. 

Christie Smith will replace Young Smith to take over the position next year. He had spent 17

Boeing takes head start in Dubai with Emirates Dreamliner order

By Tim Hepher and Alexander Cornwell

DUBAI - Emirates unveiled a preliminary order worth $15 billion for 40 Boeing jets on Sunday, but kept Europe's Airbus waiting for a lifeline order for A380 superjumbos as the Dubai Airshow opened amid worries over tensions in the Middle East.

The largest Middle East carrier signed a draft deal for the largest ve

German advisers want tighter ECB policy, longer Brexit talks

BERLIN  - The European Central Bank should wind down its asset purchases quickly and publish a strategy for normalising its expansive monetary policy, a panel of economic advisers to the German government said on Wednesday.

In their annual report, the five-member German Council of Economic Experts who advise the German government on economic policy said the ECB&#

Analysis: Could the 1987 stock market crash happen again?

By John McCrank and Chuck Mikolajczak

NEW YORK (Reuters) - On the 30th anniversary of the 1987 stock market crash, U.S. stocks are at a record high and investors are concerned that steep valuations may mean a correction is overdue, despite healthy corporate earnings and economic growth.

But could a repeat of "Black Monday" happen today? Modern trading technology, c

British inflation at 5-1/2-year high in September, rate hike on track

By Andy Bruce and Alistair Smout

LONDON - British inflation rose to its highest level in more than five years in September, official data showed on Tuesday, adding to the likelihood that the Bank of England will raise interest rates next month.

Consumer prices last month were 3.0 percent higher than a year ago, the Office for National Statistics said, matchi

As the quartet breaks up, central banking leadership flux looms

By Howard Schneider and Leika Kihara

WASHINGTON  - The leaders of the world's top central banks who risked trillions of dollars and their reputations to rescue the global economy are now set to walk off stage at a time when the lingering effects of the crisis, evolving technology and a combustible political landscape will challenge their successors.

China's crude oil buying spree looks set to continue: IEA

LONDON  - China has built its crude oil stockpiles at a record pace in 2017 and while its purchases could tail off towards the year-end, inventories could hit the billion-barrel mark in six months, the International Energy Agency said.

China has spent around $24 billion on building its crude reserves since 2015, at an average of $50 a barrel, and now holds around

Exclusive: Alphabet's Waymo demanded $1 billion in settlement talks with Uber - sources

By Dan Levine

SAN FRANCISCO - Alphabet Inc's Waymo sought at least $1 billion in damages and a public apology from Uber Technologies Inc as conditions for settling its high-profile trade secret lawsuit against the ride-services company, sources familiar with the proposal told Reuters.

The Waymo self-driving car unit also asked that an independent mo

12/10/2017 12:55:30 PM | Posted in Broking Firm Views read full news
Kobe Steel CEO says data-cheating may have spread beyond Japan as government orders probe

By Yuka Obayashi

TOKYO - Kobe Steel's CEO said on Thursday the firm's data-fabrication may have spread beyond Japan, as he was ordered by the government to report on how the misconduct occurred and address safety concerns that have sparked a scare along global supply chains.

Hiroya Kawasaki told reporters the cheating scandal has left Kobe Steel

12/10/2017 11:53:47 AM | Posted in World Market More News read full news
GE names Jamie Miller as CFO, replacing Bornstein

U.S. industrial conglomerate General Electric Co  said on Friday it promoted Jamie Miller, who has been the head of its transportation unit, to chief financial officer, replacing Jeffrey Bornstein.

The change is the latest since John Flannery took over as company CEO on Aug. 1. Flannery earlier this week was named GE's chairman of the board, three months ahead of schedule, af

Global shares return to record high as Irma loses strength

By Marc Jones

LONDON  - World shares returned to a record high on Monday, on relief that hurricane Irma looked to be losing strength in the United States and that North Korea's anniversary celebrations at the weekend passed without any new missile test.

MSCI All Country World Index, which tracks roughly 2,400 stocks in 47 countries, climbed a new pe

Global stocks dip, yen gains after North Korea test

By Patrick Graham

LONDON  - Stock markets fell and the yen, gold and sovereign bonds rose on Monday as North Korea's most powerful nuclear test provoked a knee-jerk shift to safe havens.

Sunday's test, and reports from Seoul that Pyongyang was making preparations for another missile launch, sparked another warning from Washington and drove South

UK opposition Labour backs soft Brexit, putting pressure on May

By Paul Sandle

LONDON,  - The opposition Labour Party says it would keep Britain in the European single market and customs union for a transitional period after Brexit, offering a clear alternative to the policies of Prime Minister Theresa May.

The centre-left party would seek to maintain the "same basic terms" with the European Union, includi

27/08/2017 12:26:04 PM | Posted in World Market More News read full news
Britain to urge EU to show "imagination" in Brexit talks

LONDON  - Britain will urge the European Union on Monday to show "imagination" in Brexit talks and help focus discussion on future ties rather than on a divorce settlement.

Brexit minister David Davis will call on the EU to be more flexible in its approach at the start of negotiations with the bloc's chief negotiator Michel Barnier on Monday -- the

Sterlite to Investment $1 billion annually in Brazil power lines - source

SAO PAULO  - India's largest power transmission company Sterlite Power Grid Ventures Ltd  will invest around $1 billion per year in the next few years to build power lines in Brazil, a source with direct knowledge of the plan told Reuters on Wednesday.

The source, who asked not to be named because he is not authorized to speak publicly about the plan, sa

24/08/2017 9:22:17 AM | Posted in World Market More News read full news
China`s July exports, imports weaker than expected cloud global outlook

BEIJING  - China's exports and imports grew more slowly than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back their massive stimulus programmes.

China and Europe have been driving an increasing share of global growth this year as political conflict stymies stimulus poli

Global stocks reach new peak in world full of surprises

By John Geddie

LONDON - World stocks breached record highs on Monday as better-than-expected company earnings and economic data from the United States stole the focus from rising geopolitical tension over North Korea's nuclear programme.

The U.S. dollar dipped slightly but held on to most of Friday's gains - its biggest daily rise this year - made af

China bank watchdog to tighten risk control amid regulatory shake-up

SHANGHAI  - China's banking regulator will tighten control over risks in the financial markets, work more closely with the central bank and other regulators, and "resolutely follow" the leadership of a newly-formed financial stability committee, it said late on Monday.

The China Banking Regulatory Commission's comments come after President Xi Ji

JPMorgan reports 13 pct rise in quarterly profit

JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a 13.4 percent increase in quarterly profit on Friday as gains from higher interest rates more than offset a drop in bond trading.

The bank's net income rose to $7.03 billion in the second quarter ended June 30 from $6.20 billion a year earlier. Earnings per share rose to $1.82 from $1.55. 


Dollar treads water, U.S. inflation data awaited for Fed direction

By Shinichi Saoshiro

TOKYO - The dollar trod water against a group of peers early on Friday, as currency investors remained cautious ahead of U.S. inflation data due later in the session, which is expected to set the greenback's near-term direction.

The U.S. currency's recent advance, notably against the yen, has stalled towards the end of this week

OPEC, non-OPEC July meet to take no decisions: Algeria energy minister

ISTANBUL - A joint meeting of OPEC and non-OPEC nations in Russia later this month will only discuss the oil market but will take no decisions, Algerian Energy Minister Mustapha Guitouni said on Wednesday.

"The (global oil output cut) decision had already been taken until March 2018," he said during an international energy forum. "Algeria's current

12/07/2017 3:22:36 PM | Posted in World Market More News read full news